Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Position Reduced by Fred Alger Management LLC

Fred Alger Management LLC trimmed its holdings in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM - Free Report) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,979,119 shares of the medical device company's stock after selling 194,988 shares during the period. Fred Alger Management LLC owned about 3.01% of Tandem Diabetes Care worth $83,934,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tandem Diabetes Care by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,732 shares of the medical device company's stock valued at $1,372,000 after acquiring an additional 1,985 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Tandem Diabetes Care by 11.2% in the second quarter. GAMMA Investing LLC now owns 4,276 shares of the medical device company's stock worth $172,000 after buying an additional 431 shares during the period. LVW Advisors LLC grew its stake in shares of Tandem Diabetes Care by 15.1% in the second quarter. LVW Advisors LLC now owns 7,869 shares of the medical device company's stock valued at $317,000 after buying an additional 1,034 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Tandem Diabetes Care by 11.1% during the 2nd quarter. Diversified Trust Co now owns 14,635 shares of the medical device company's stock valued at $590,000 after buying an additional 1,462 shares during the period. Finally, ORG Partners LLC acquired a new position in Tandem Diabetes Care during the 2nd quarter worth approximately $31,000.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TNDM. Piper Sandler reaffirmed an "overweight" rating and issued a $55.00 price objective (up previously from $50.00) on shares of Tandem Diabetes Care in a research report on Friday, August 2nd. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an "outperform" rating and a $42.00 price objective on the stock. Morgan Stanley restated an "equal weight" rating and set a $45.00 target price on shares of Tandem Diabetes Care in a research note on Monday, September 23rd. Canaccord Genuity Group started coverage on Tandem Diabetes Care in a research note on Thursday, August 8th. They issued a "buy" rating and a $57.00 price target on the stock. Finally, Canaccord Genuity Group dropped their price objective on Tandem Diabetes Care from $57.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Tandem Diabetes Care has an average rating of "Moderate Buy" and an average target price of $54.25.

Insider Buying and Selling at Tandem Diabetes Care

In other news, Director Kim D. Blickenstaff sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the director now owns 195,190 shares of the company's stock, valued at approximately $5,855,700. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.

Tandem Diabetes Care Stock Performance

TNDM traded down $0.59 on Friday, hitting $30.63. 446,552 shares of the company's stock were exchanged, compared to its average volume of 1,595,366. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock has a fifty day moving average of $34.88 and a two-hundred day moving average of $40.81. Tandem Diabetes Care, Inc. has a twelve month low of $18.45 and a twelve month high of $53.69. The firm has a market cap of $2.01 billion, a PE ratio of -15.87 and a beta of 1.36.

Tandem Diabetes Care (NASDAQ:TNDM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The medical device company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.43) by $0.08. Tandem Diabetes Care had a negative return on equity of 44.19% and a negative net margin of 14.84%. The business had revenue of $243.97 million for the quarter, compared to analysts' expectations of $224.14 million. During the same period in the prior year, the firm earned ($0.38) EPS. The business's quarterly revenue was up 31.4% on a year-over-year basis. On average, research analysts anticipate that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.